Business
Uber’s ride-hailing business is ‘a mess,’ analysts say, and the stock is sputtering – MarketWatch
Earnings show flailing Rides segment and booming food-delivery business, but analysts focus more on the former after earnings
Uber Technologies Inc. shares declined Friday as concerns about the COVID-19 pandemics negative effects on the companys ride-hailing business seemed to outweigh hope for its booming food-delivery segment.After Uber
UBER,
-5.21%
reported earnings Thursday afternoon, analysts wrote positively on the pivot toward food delivery with Uber Eats and the companys cost-cutting measures. But sentiment about the Rides business where gross bookings plunged 73% year over year was not optimistic. The ri…
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